A consortium of lenders led by Key Bank filed to initate foreclosure proceedings in U.S. Federal District Court on Tuesday against Perkins Rowe. The filing is not expected to affect day-to-day operations at the mixed-use development, say Perkins Rowe officials. “Over the past few months we have worked diligently with our lenders to address issues and work through them. Unfortunately the tight economic market has made refinancing difficult,” officials say in a statement. Perkins Rowe will seek new financing and will continue working with lenders in the hopes of reaching a settlement. For a recent Business Report cover story about Perkins Rowe’s troubles, click here.
Perkins Rowe lenders file for foreclosure
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